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20121225
20121225
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Search Results 0 to 27 of about 28 (some duplicates have been removed)
worries about the impact of if fiscal cliff tax increases that will pame with the end of the year. >> come january we're going to hit economic hangover when taxes are going to go up and everyone and ebe miserable. >> reporter: analysts say sales ana been strong this holiday season partly because many retailers started cutting prices ngrly. that meant bargains for christmas shoppers but, jeff, may mean lower profits for the jefes. >> glor: john blackstone, thank rou. john mentioned the fiscal cliff. tinight we've learned democrats emocraw moving ahead on their hei plan to avoid it now that talks have broken down with john boehner. white house and congressional leaders have until january 1 to lork out a budget deal. resident obama is in hawaii on udget dn. nancy cordes is there as well. nancy, good evening. nancy, goor: jeff, this would : sentially be a last-ditch effort to avert the fiscal ially be sources tell us that aides to the president have been in talks preliminary talks, with aides to senate majority leader harry elf who himself was here in hawaii this weekend for the funeral of se
.u.i. the driver ran into a creek. >>> as lawmakers in washington don't reach a compromise fiscal cliff. higher taxes will loom. for americans that bring in $50,000 to $75,000 they will see an increase of $2300. people who make between $75,000 to $100,000 will pay almost double that. news about the fiscal cliff has not been good with the president and congress far apart. if they can't agree on a budget plan by january 1st, government spending cuts will increase automatically. market watchers worry that it will put the country into a recession. >> dan: annual toy drive is in full swing. there are not enough toys so far. so a plea is going out to lefty o'doul's at union square. that is where tomas ramon is live with the story tonight. >> reporter: i seek behind me there are firefighters here, they are collecting toys that people are driving by and dropping off. they collected 4600 toys so far. it's far less than 15,000 they were hoping to collect so they are asking people if they can't want to give a toy for christmas drive by and drop off a gift. six-year-old jordan young has new toy cars for ch
today to really spill the truth what all this tax talk and fiscal cliff concerns really mean for businesses an your money. jim amos, chairman of planet smoothie. we have the ceo of fast signs and the jamie richardson the vice president of white castle. we have a power panel on today. thank you all for joining us. i want to start with some news from clarence otis, ceo of darden restaurants. obviously he came out and said that the forecast for his company going forward is looking bleak for a couple of different reasons. he said the negative media coverage that focused on darden and how they might accommodate health care reform has really hurt the company. he was someone who came out and said they would have to go ahead and use many more part-time workers because obamacare was simply too expensive. there was a big backlash against that. so he is going to have to go ahead and as a result, they will keep their full-time workers on. they will really stuck with the cost of obamacare. he also said, you know, they're having a tough time because people aren't coming into the restaurant
cliff. avoid the fiscal cliff, billions in tax hikes and spending cuts will kick in. that uncertainty sparked another day of selling on wall street christmas eve. the dow dropped almost 52 points. >>> one of the most popular gifts under the christmas tree? gift cards. the national retail federation survey found 81% of shoppers bought gift cards this year spending an average of $150 each. >>> despite an increase in gift cards sales retailers anticipate holiday sales will be disappointing. while spending is expected to be up over last year, it is expected to be less than businesses were hoping for. >>> smart phones are a popular gift this year. next year smart cameras could be a big hit. they are already a couple on the market. nikon's new camera has wi-fi gps and many of the apps you'll find on an android smart phone. samsung's galaxy cam can also go an line allowing you to take pictures and immediately share them on social media. other companies are working on similar devices for next year. that's your money watch. for more business headlines go to cbsmoneywatch.com. in new york, i'm
motive. >> terrible story. a week before the fiscal cliff, tax hikes for all americans and spending cuts that could pull the economy back into recession. ho, ho, ho. that makes everybody happy on christmas morning. president obama spent christmas eve playing a round of golf with friends and the democratic senate looks like the only hope for crushing the deadlock. our white house correspondent brianna keilar maybe with a little bit of news which is pathetic because it's talks within the democratic party, but at least they are talking. >> reporter: that's right. is it really news that democrats are talking? that's all the news we have to report as of today. i know i feel a little bit like a grinch reporting this, but the white house is in talks with senate democrats. that's not really surprising as we look to the senate to be the next -- really the next ones to act on this when they reconvene on the 27th. right now it's really up to senate majority leader harry reid to try to cobble something together that can get some republican support in the senate and the house to avoid the fiscal clif
christmas stocking the one-week warning on the fiscal cliff. we're seven days away from tax hikes and spending cuts that could send the economy spiraling into recession. here's what your elected officials are doing about it. have a look. president obama spending christmas eve on the links in honolulu with friends. while lawmakers relax at home for the holidays. right now the senate looks like it might be the only hope for a compromise deal. can a deal be struck? white house correspondent brianna is traveling with the first family in honolulu, hawaii. hey, brianna, good morning. >> good morning, to you, it's been many silent nights actually in washington these days. not because there's nobody there to sort of figure out what's going on with the fiscal cliff but also, because folks really aren't talking. we know the white house is talking to senate democrats as we look to the senate as he reconvene on thursday, really, the last-ditch effort to try to do something. as of yet, congressional democrats in the white house are not talking with congressional republicans. that's even at the
their fight over the fiscal cliff. >> anyone who has not taken advantage of the tax credit, act fast. you have a few days to save hundreds of dollars. officials are reminding all consumers to postmarked applications by december 31 or you'll have to wait another year. the legislation in 2007 by the state general assembly. homeowners must submit eligibility, which limits the amount of assessment increase. spending the holidays at home is not in the plans for george h. w. bush. he is spending another night in hospital. he has been in the hospital since last month with a lingering bronchitis' cough. doctors had hoped to release them but he delivered a fever. doctors say they are optimistic he will recover. the good news come he is surrounded by his wife and other relatives. nelson mandela is looking better after two weeks in the hospital. he had surgery to remove gall stones and developed a lung infection. no word on whether the former president will be released but he does remain in good spirits. she had a memorable moment with daniel craig and now queen elizabeth's's christmas message is all of
in hawaii and, yes, christmas brings us one day closer to possibly the fiscal cliff, the huge tax increases, spending cuts that could take effect in one week or so. brianna keeler is watching there in hawaii, joining us with the update. first of all, how is the president, how is the first family spending the holiday? >> presumably right now they are sleeping in, suzanne, because it is still very early here as you know. >> what time is it? >> we are expecting of course they'll have a christmas. let's see. 6:00 in the morning bright and early. we've been at it for a few hours. we expect them to have a nice christmas meal at the house they're renting. the white house chef is here. maybe we'll get details on what they are going to eat. there is nothing on the president's public schedule. he is frequently gone and visiting with troops in the past so we wouldn't be surprised if he did that again today. i will tell you that bo the dog is actually along for the ride here in hawaii and the white house released a video where bo just really kind of steals the show. let's look at a little of that. this
likely we will go over the fiscal cliff following the failure of joan boehner to get higher taxes on wealthy americans. if the president and congress can't agree, government spending cuts and tax hikes will kick in automatically. market watchers feel it could push the competent back into recession. >> carolyn: instapgram has triggered a class action lawsuit. the claim was filed against facebook that owns the service. infagram that changed its terms of service. idea was abandoned after an outcry from users. lawsuit alleged they breached the contract with users in tweak that go policy. facebook has not responded to the suit. >> dan: a new requirement that forces california lawmakers to drive their own cars for legislative business is paying off. they report the state has saved $240,000, n taxpayer money since the new rule went into effect one year ago. california lawmakers were given a car paid by the state. this year that practice ended. they must drive their own cars, the savings was achieved because many legislators cut their driving habits in half. >> carolyn: big television scr
yesterday at the deadline but that deal to avoid the fiscal cliff on new year's if democrats and republicans can't compromise, tax hikes will kick in, the tax policy center said families making $50,000 a year will have to pay $2,400 more in taxes. >>> the excon who lured firefighters to their deaths left a note saying he wanted to burn down the neighborhood and do what i like doing best, killing people. >> we are being shot at. multiple fireman down, i'm shot. >> that was a call that a wounded firefighter made, william spangler burned his home yesterday and waited for first responders. he was armed a gun, a shot gun and a rifle. he opened fire when crews arrived. arrived. two firefighters were killed. >> just always there for you. you just take them for granted. you don't -- >> two more wounded are still in the hospital on this christmas day. spangler took his own life. his rifle is the same make and caliber weapon used by the newtown shooter. >>> families in connecticut are trying to find solace on this christmas day. the town is still reeling from the shooting that killed 26 people at
landed in a baby stroller. >>> prest barack obama is coming back to try to avoid the fiscal cliff. the announcement comes after house speaker john boehner's plan "b" was rejected thursday. without a deal, tax increases will take affect in the new year. >>> a man named firefighter of the year was one of the victims killed in the attack yesterday. william sprangeller tried to lure them. he shot four firefighters yesterday and took his own life. two firefighters died and one of them was a police lieutenant and volunteer firefighter who had been with his town's police for 20 years. mourners turned out last night to remember those who were killed. >> we are strong people, our community is there for everybody. >> two other firefighters were injured and the fire spread to more homes and they will search for more victims today. >>> now they are looking for the people responsible. that shooting happened at 6:00 on 11th avenue near 12th -- east 12th street. the woman was taken to the hospital where she is listed in critical condition. >>> an apparent shootout between two cars in west oaklan
this fiscal cliff is really all about. we're talking about automatic tax cuts that will go into place as well as drastic, draconian cuts in entitlement programs, medicare, and even the military. the military can suffer very greatly if this goes through the sequestration. if you look at all this, you realize something has got to be done, because $2,000 per average taxpayer will be added to them over the course of this year if they fail to do something, what is going to happen? what is your prediction, brad? >> well, my prediction is, that we're likely to go over the cliff because the president also knows, kelly, in 2013 any deal made then can be retroactive to january 1st. so the draconian cuts we're talking about can be wiped away with the stroke of a pen should a deal be made. i believe the president believes he is in stronger position if he deal doesn't go through now because he believes he will have better leverage in january. kelly: sear lena? >> he has better leverage i agree with brad about that. he can come to congress after january 1 and pass tax cuts only for those making under $250,
don't raise taxes now you violated the fiscal cliff. do you want to be the person who stands up and destroying america? do you want to go on one of the national networking and explain your reactionary and out of touch with life you don't care that america is going to die late on thursday? [laughter] it's all right if that's kind of person you are. we're never going schedule you. you will be never on television. you are clearly weird. [laughter] let me start with the idea and say there is no fiscal cliff. we had a bad election. we did a number of stupid things. we faced an opponent smarter than we were. ronald reagan when he was most important single statement is february 1975 in washington at the conservative political action committee meeting. now i was part of this. i ran in '74. i had no sense of timing. so i picked watergate to run in. [laughter] i'm in georgia, i'm a yankee born army brat with a strange accent, a weird name, running as a republican during wear gait. it was beyond not clever. [laughter] this was like, you know, don't give him money, pay for the therapy. [lau
of the fiscal cliff. if we do go over the cliff, the i.r.s. has warned most taxpayers may not be able to file their returns until late march. that would mean long delays for many tax refunds. and economists warn the economic effects will be felt quickly if $600 billion in automatic tax increases and spending cuts begin to take effect next year. at this rate, it looks like lawmakers will celebrate new year's eve at work-- if not resolving the fiscal cliff, at least trying to avoid the blame. darren gersh, nbr, washington. >> susie: going over the fiscal cliff will not only have an impact on the national level, it will also hit states and eventually cities. if lawmakers fail to reach a deal before january 1, the cliff's across the board spending cuts and tax increases will impact how much money states get from the federal government. ruben ramirez reports from washington. >> reporter: we all know the numbers. failing to reach a deal by january 1 will result in $109 billion in automatic cuts to federal spending. and while that's a big number, what matters most to states and municipalities is the
>> with congress in recess. and the president on vacation in hawaii. not much is happening in the fiscal cliff situation. it would mean a series of tax hikes and spending cuts taking effect in about a week. on wall street. the dow lost 52 points in a shortened christmas eve trading day. the nasdaq dropped eight. and the s-and-p lost 3 points. >> catherine: there could also be what you might call a 'dairy cliff'. beginning next year, you could pay as much as seven dollars for a gallon of milk if congress doesn't step in. with the focus on the fiscal cliff - other legislative matters are falling by the wayside.including a stalled farm bill. certain protections for farmers are expiring. one of them is the dairy subsidy, which ends january first. if congress doesn't act before then, the u-s would revert back to a 63-year-old dairy policy. it would force the government to buy milk at inflated prices, driving up the cost.. ------------------------ now showing les miserables- >> quentin tarantino takes movie goers to the deep south of a plantation owner ...with leonardo eicaprio samuel l. jackson and
that would happen if this fiscal cliff deadline comes. his package also has some spending cuts. however the problem with his package is that he hasn't talked to any republicans. it's not a bipartisan package. he's working on this by himself to hopefully step in and maybe make a compromise himself. but begin this deadline's looming and you know tuesday is going to come pretty quickly. >> well, they need to get back to work. enjoy the holiday back to work tonight if not tomorrow. okay edward lawrence, thanks so much have a great holiday and thanks for that live interview. >>> well it is not just the fiscal cliff that we're closing in on. probably never heard of this one. there could be a dairy cliff beginning next year you could be paying as much as $7 for a gallon of milk. if congress doesn't step in. with all the concerns over the fiscal cliff, that we've just been talking about, several other legislative matters are falling by the wayside including a stalled farm bill. that includes the dairy subsidy and set to end january 1st sending us back to the 1950s policy requiring the governmen
cuts and tax hikes if congress and the white house cannot reach a deal on the fiscal cliff. lawmakers and the president left washington for christmas break and are expected back in town in washington before the end of the week. >>> call it terrible timing, netflix is apologizing for its christmas eve outage. the popular streaming service sent out a tweet last night saying that engineers were working to fix the problem. according to the "wall street journal", netflix blames the outage on technical problems at amazon.com which delivers internet service for many websites. >>> russia's biggest christmas tree on display in the kremlin's cathedral square in moscow. they decorated the tree with a patriotic theme symbolizing the russian flag. many russians are eastern orthodox christians and celebrate christmas on jeanne 7 january 7th. >>> and nothing says christmas like a tree. jeanne moos explain. >> reporter: maybe if this homeowner had measured better his christmas tree wouldn't have burst through the roof. >> that's crazy. >> reporter: what's crazy is how crazy everyone is about this chr
the evening with his family. >>> it may be christmas eve but the fiscal cliff is not far from the minds of lawmakers. the president and congress left washington on friday for the holidays with a promise to return later this week. there is only a week left to avoid tax hikes and spending cuts that will impact almost every american. tonight it appears democrat senate leader harry reid may take the lead in crafting a comp mice to prevent tax hikes on at least the middle class. the president was in hawaii for the funeral of senator daniel minoli. >>> one of the president's last acts before leaving washington caught some holiday travelers offguard today. grace lee on how an unexpected federal holiday scuttled some christmas vacations. >> i'm really upset. at this point, i don't know what can we do now? just wait. we've been here since 7:30 in the morning. my appointment was at 9. >> reporter: stranded an christmas eve. it was the same story for dozens who were supposed to pick up pass ports today. some had confirmation numbers. >> extremely frustrating and disappointing that i'm not going t
later this week as america gets closer to the fiscal cliff. some larrymakers are now calling for a small scale deal as a temporary fix. >> i think it's impossible to get any kind of grand bargain or comprehensive package. i think we're dealing right now with whether or not we can put off the increases in tax rates. that's really all we can deal with right now. >> the house will stand in recess subject to the call of the chair. >> reporter: congress recessed after republicans rejected john boehner's compromise. he proposed letting tax cuts expire for those making over $1 million a year. other republicans say it's time for a deal. >> i agree with him. i don't think we ought to increase taxes on anyone. however, we're now at a point where we're not going to get what we think is right for our economy and our country. >> with congress coming back, the president will also reportedly cut short his holiday vacation in hawaii. democrats hope mr. obama will continue to fight for a complete agreement, not just a temporary patch. >> i definitely hope that he can and will continue to push for as big
a deal to avoid the fiscal cliff. he rejected house speaker john boehner's plan "b" on thursday and will not support him let's on -- limits on government borrowing. the president said any deal must include raising taxes on the wealthiest americans. >> we will go over the cliff now because it is what the president wants. >> we will prey vend a tax hike. >> without a deal spending cuts and budget cuts will take affect and it could lead to another jump in unemployment. >>> they will be spending christmas in the hospital. in south africa, nelson mandela has been in the hospital since the beginning of the month. they have no plans to release him any time soon. he was originally taken to the hospital for gaul stones. >>> and for george hw bush, he might be able to go home for christmas but then they changed their mind. former former president bush bush has been receiving therapy and they say he will make a full recovery. >>> let's go to ktvu channel 2 morning news' janine de la vega, she is live at the scene and will give us details, jeanine? >>> we are right at the los gatos border a
to remember nancy pelosi and the democrats that voted no voted to go over the fiscal cliff. they have been trying to kill all the bush tax cuts. even mr. obama since 2005 when he was running as a senator. i don't know what your thoughts are about that. i would like to hear about the democrats voted to push us off the fiscal cliff. host: how you pick political heroes? caller: this is a republic and want to see going back to what it was. people are getting knocked off of unemployment in states because their rates went down. we go off this cliff, anybody on extended unemployment will not get a check in january. host: this is gary who chooses ben bernanke. beverly is next from vermont. caller: hello/ ? my choice is the teachers of america. i cannot believe that people did not speak up more for the teachers. they do they hurled job practically every day. host: why are they political heroes? caller: who do you think is going to run the country in the future? this is something that people do not understand. our future is our children. nobody seems to care. my choice is the teachers in america. th
didn't have before. but watching as these fiscal cliff negotiations have gone through the holidays, it certainly is perhaps a little bit more of a bully pulpit for the president and for his position on taxes. but i think the biggest story of the year came at the end of the year, in the past week or so. which is the massacre at the elementary school in sandy hook, newtown. those are the stories that barnicle and andrew have chosen as the top stories of 2012 to cover. mike barnicle, would you agree, that this could be his signature for his second term? >> i do. i do agree with that. i think the events of a few days ago in newtown, connecticut, will help shape a good portion of the president's second and final term in office. i think it gives us a huge impetus to changes in this country that had been, that have taken too long to take hold. i think the presidency itself, i think the man himself was shaped and altered by these events, both as a parent and as a president. >> andrea? >> let me just say that joe call fanno has written about what lbj said to him right after robert kennedy w
the president actually wants to go off the fiscal cliff for political gain. take a listen. when i listen to the president i think the president is eager to go over the cliff for political purposes. additional tax revenue for new programs. he gets to cut the military which democrats have been calling for for years. and he gets to blame republicans for it. >> now, republicans are also skeptical of the short-term deal the president is talking about because it would leave spending cuts until next year. not deal with them now. republicans don't like the idea that some taxes would go up. meanwhile, the spends cuts wouldn't come until later. although democrats on the hill say the real reason republicans have not sealed the deal with the president yet is they just won't admit that he won the election. take a listen to senator chuck schumer. >> on taxes i know it's hard for the republicans but the president ran on that platform 250 no taxes below but taxes above. he won 60% of the voters said they were for it in the exit polls including some republicans. >> independent senator joe lieberman says
Search Results 0 to 27 of about 28 (some duplicates have been removed)